Graham Holdings (GHC)

NYSE Consumer Discretionary Education Services S&P MidCap 400

$1,212.02

-5.84 (-0.48%)

Close of Nov 06, 2026 · end-of-day data

Source: Graham Holdings's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.48B	$2.59B	$2.70B	$2.93B	$2.89B	$3.19B	$3.92B	$4.41B	$4.79B	$4.91B
Selling, general & admin	$896.10M	$887.79M	—	—	—	—	—	—	—	—
Operating income	$222.87M	$136.40M	$246.16M	$144.55M	$100.41M	$77.38M	$83.90M	$69.39M	$215.50M	$234.95M
Interest expense	$35.39M	$33.89M	$37.90M	$29.78M	$38.31M	$33.94M	$54.40M	$63.30M	$186.15M	$118.79M
Pre-tax income	$250.66M	$182.79M	$323.51M	$426.48M	$407.27M	$449.63M	$121.73M	$299.00M	$1.02B	$449.67M
Income tax	$81.20M	-$119.70M	$52.10M	$98.60M	$107.30M	$96.30M	$51.30M	$87.30M	$292.10M	$146.40M
Net income	$168.59M	$302.04M	$271.21M	$327.86M	$300.37M	$352.07M	$67.08M	$205.29M	$724.63M	$292.29M
EBITDA	$287.49M	$198.91M	$302.88M	$203.80M	$174.66M	$148.79M	$157.19M	$155.46M	$302.55M	$315.31M
EPS (basic)	$29.95	$54.24	$50.55	$61.70	$58.30	$70.65	$13.83	$43.96	$164.62	$67.11
EPS (diluted)	$29.80	$53.89	$50.20	$61.21	$58.13	$70.45	$13.79	$43.82	$163.40	$66.47
Diluted shares	5.59M	5.55M	5.37M	5.33M	5.14M	4.96M	4.84M	4.65M	4.41M	4.37M
Operating margin	9.0%	5.3%	9.1%	4.9%	3.5%	2.4%	2.1%	1.6%	4.5%	4.8%
Net margin	6.8%	11.7%	10.1%	11.2%	10.4%	11.1%	1.7%	4.6%	15.1%	6.0%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$648.88M	$390.01M	$253.26M	$200.16M	$413.99M	$145.89M	$169.32M	$169.90M	$260.85M	$266.99M
Receivables	$591.85M	$600.22M	$538.02M	$595.32M	$519.58M	$589.58M	$504.78M	$496.17M	$477.83M	$519.07M
Total current assets	$1.87B	$1.74B	$1.53B	$1.66B	$1.77B	$1.85B	$1.68B	$1.85B	$2.10B	$2.43B
Goodwill	$1.12B	$1.30B	$1.30B	$1.39B	$1.48B	$1.65B	$1.56B	$1.53B	$1.50B	$1.59B
Total assets	$4.43B	$4.94B	$4.76B	$5.93B	$6.44B	$7.43B	$6.55B	$7.19B	$7.68B	$8.40B
Total current liabilities	$818.96M	$878.61M	$812.16M	$1.04B	$949.65M	$1.17B	$1.15B	$1.23B	$1.20B	$1.39B
Short-term debt	$6.13M	$6.73M	$6.36M	$82.18M	$6.45M	$141.75M	$155.81M	$66.75M	$26.58M	$175.14M
Long-term debt	$485.72M	$486.56M	$470.78M	$430.65M	$506.10M	$525.75M	$570.55M	$745.08M	$721.62M	$705.62M
Total debt	$491.85M	$493.29M	$477.14M	$512.83M	$512.55M	$667.50M	$726.36M	$811.83M	$748.19M	$880.76M
Total liabilities	$1.98B	$2.02B	$1.84B	$2.60B	$2.67B	$3.00B	$2.78B	$3.16B	$3.35B	$3.53B
Shareholders' equity	$2.45B	$2.92B	$2.92B	$3.32B	$3.76B	$4.40B	$3.73B	$3.98B	$4.26B	$4.79B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$261.26M	$268.06M	$287.02M	$165.16M	$210.66M	$202.43M	$235.60M	$259.88M	$406.99M	$347.19M
Capital expenditures	$66.61M	$60.36M	$98.19M	$93.50M	$69.59M	$162.54M	$82.68M	$93.45M	$82.91M	$71.88M
Free cash flow	$194.64M	$207.70M	$188.83M	$71.66M	$141.07M	$39.89M	$152.92M	$166.43M	$324.08M	$275.30M
Investing cash flow	-$311.29M	-$442.02M	-$230.96M	-$236.74M	$199.37M	-$494.63M	-$184.07M	-$152.97M	-$62.33M	-$179.44M
Financing cash flow	-$43.08M	-$100.11M	-$192.36M	$18.73M	-$204.00M	$31.03M	-$18.11M	-$99.83M	-$240.97M	-$165.48M
Share buybacks	$108.95M	$50.77M	$118.03M	$2.10M	$161.83M	$55.68M	$71.39M	$193.16M	$114.10M	$3.47M
Stock-based compensation	$13.42M	$10.17M	$6.41M	$6.28M	$6.35M	$5.66M	$6.12M	$6.71M	$6.33M	$5.72M
Depreciation & amortization	$64.62M	$62.51M	$56.72M	$59.25M	$74.26M	$71.42M	$73.30M	$86.06M	$87.05M	$80.37M

Income statement

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Jun 2026	Sep 2026
Revenue	$1.11B	$1.17B	$1.15B	$1.19B	$1.21B	$1.25B	$1.17B	$1.22B	$1.28B	$1.25B	$1.30B	$1.33B
Cost of revenue	$781.59M	$826.28M	—	—	—	—	—	—	—	—	—	—
Gross profit	$329.93M	$340.53M	—	—	—	—	—	—	—	—	—	—
Operating income	-$57.11M	$40.79M	$35.44M	$25.91M	$81.65M	$72.50M	$47.47M	$72.75M	$67.14M	$47.59M	$83.63M	$85.52M
Interest expense	$11.81M	$25.42M	$19.33M	$91.38M	$25.90M	$49.54M	$82.28M	$18.11M	$17.16M	$1.24M	$17.17M	$15.77M
Pre-tax income	-$11.73M	$72.59M	$168.84M	-$14.73M	$113.01M	$757.59M	$33.62M	$60.62M	$183.04M	$172.38M	$317.48M	$99.14M
Income tax	$9.40M	$16.90M	$43.50M	$4.10M	$38.50M	$206.00M	$7.90M	$20.20M	$56.80M	$61.50M	$35.10M	$21.90M
Net income	-$23.03M	$53.26M	$124.38M	-$21.04M	$72.50M	$548.79M	$23.89M	$36.75M	$122.92M	$108.72M	$281.10M	$75.11M
EBITDA	-$34.91M	$63.52M	$57.97M	$48.08M	$102.98M	$93.52M	$68.03M	$92.40M	$86.43M	$68.45M	$101.92M	$103.64M
EPS (basic)	$-5.02	$11.76	$27.87	$-4.79	$16.54	$124.88	$5.50	$8.43	$28.19	$24.96	$65.53	$17.79
EPS (diluted)	$-5.02	$11.72	$27.72	$-4.79	$16.42	$123.91	$5.45	$8.35	$27.91	$24.72	$64.86	$17.60
Diluted shares	4.60M	-46.00K	4.46M	4.40M	4.38M	-18.00K	4.36M	4.37M	4.38M	3.00K	4.31M	4.24M
Gross margin	29.7%	29.2%	—	—	—	—	—	—	—	—	—	—
Operating margin	-5.1%	3.5%	3.1%	2.2%	6.8%	5.8%	4.1%	6.0%	5.2%	3.8%	6.4%	6.4%
Net margin	-2.1%	4.6%	10.8%	-1.8%	6.0%	44.1%	2.0%	3.0%	9.6%	8.7%	21.6%	5.7%

Balance sheet

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Jun 2026	Sep 2026
Cash & equivalents	$159.98M	$169.90M	$130.86M	$140.72M	$244.36M	$260.85M	$156.70M	$176.22M	$190.82M	$266.99M	$156.77M	$154.33M
Receivables	$513.75M	$496.17M	$468.37M	$434.36M	$486.51M	$477.83M	$459.65M	$419.35M	$494.46M	$519.07M	$419.48M	$492.18M
Total current assets	$1.80B	$1.85B	$1.95B	$1.94B	$2.08B	$2.10B	$2.03B	$2.01B	$2.24B	$2.43B	$2.27B	$2.36B
Goodwill	$1.50B	$1.53B	$1.51B	$1.51B	$1.53B	$1.50B	$1.51B	$1.54B	$1.57B	$1.59B	$1.60B	$1.55B
Total assets	$6.69B	$7.19B	$7.26B	$7.23B	$7.42B	$7.68B	$7.62B	$7.62B	$7.85B	$8.40B	$8.14B	$8.29B
Total current liabilities	$1.15B	$1.23B	$1.24B	$1.21B	$1.33B	$1.20B	$1.25B	$1.58B	$1.69B	$1.39B	$1.22B	$1.34B
Short-term debt	$21.88M	$66.75M	$76.84M	$101.87M	$34.14M	$26.58M	$149.18M	$502.12M	$424.87M	$175.14M	$191.47M	$148.07M
Long-term debt	$739.81M	$745.08M	$738.71M	$732.90M	$731.05M	$721.62M	$715.46M	$314.25M	$307.03M	$705.62M	$708.90M	$705.36M
Total debt	$761.69M	$811.83M	$815.55M	$834.77M	$765.19M	$748.19M	$864.63M	$816.38M	$731.90M	$880.76M	$900.37M	$853.43M
Total liabilities	$2.95B	$3.16B	$3.16B	$3.20B	$3.35B	$3.35B	$3.25B	$3.18B	$3.31B	$3.53B	$3.32B	$3.45B
Shareholders' equity	$3.69B	$3.98B	$4.04B	$3.97B	$4.00B	$4.26B	$4.29B	$4.35B	$4.46B	$4.79B	$4.76B	$4.78B

Cash flow

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Jun 2026	Sep 2026
Operating cash flow	$140.29M	$57.35M	$1.07M	$52.04M	$237.57M	$116.31M	$46.01M	$94.80M	$178.09M	$28.29M	—	$160.42M
Capital expenditures	$20.25M	$32.29M	$21.26M	$18.30M	$18.12M	$25.23M	$15.48M	$16.80M	$16.33M	$23.26M	—	$25.78M
Free cash flow	$120.04M	$25.06M	-$20.19M	$33.74M	$219.45M	$91.08M	$30.53M	$77.99M	$161.75M	$5.03M	—	$134.64M
Investing cash flow	-$96.46M	-$33.54M	-$20.96M	-$20.82M	$6.10M	-$26.65M	-$18.59M	-$12.73M	-$67.05M	-$81.08M	—	-$20.88M
Financing cash flow	$8.18M	-$30.13M	$1.53M	-$22.79M	-$155.05M	-$64.65M	-$121.73M	-$66.78M	-$102.31M	$125.34M	—	-$132.15M
Share buybacks	$63.17M	$60.91M	$20.03M	$29.49M	$48.66M	$15.93M	$3.47M	$0	$0	$0	—	$76.61M
Stock-based compensation	$1.69M	$1.69M	$1.44M	$1.65M	$1.63M	$1.61M	$1.55M	$1.56M	$1.69M	$921.00K	—	$1.35M
Depreciation & amortization	$22.21M	$22.73M	$22.53M	$22.17M	$21.33M	$21.01M	$20.55M	$19.65M	$19.30M	$20.86M	$18.28M	$18.12M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.